CAMERON HARBOR* Cameron Harbor will be an $80 million mixed-use development along the Tennessee River in downtown Chattanooga. The development is located on a nine-acre tract on the former Jones-Blair Co. property off Riverfront Parkway near Cameron Hill.* Managing developer Eugene “Buck” Schimpf said Cameron Harbor will have 16 townhouses, a restaurant, boat slips and Riverwalk in the first phase of the project.* The townhouses, dubbed “Tennessee coastal” in design, will range from $1 million to $1.8 million each.* A 115-room, $16 million Spring Hill Suites by Marriott developed by locally based 3H Group will help anchor the site.* A second phase of Cameron Harbor will feature a 25-unit high-rise condominium project, a pool and clubhouse.HAMPTON INN & SUITES* Chattanooga-based Vision Hospitality Group has begun construction on a 134-room Hampton Inn & Suites at the corner of Fourth and Chestnut streets at the former site of the Regional History Museum.* Mitch Patel, president and CEO of Vision Hospitality, said it is pursuing LEED silver certification for the hotel. The hotel will feature large guestroom windows and lots of storefront windows on the ground floor to promote a welcome and open environment, and connect guests to the surrounding environment.* The $18.2 million, six-story hotel will include a 130-space parking structure under the hotel, and offer additional retail space. Plans are to add 15,000 square feet of retail and office space on Broad Street in the future.* The hotel will feature an indoor-outdoor pool, fitness room, and business center as well as an urban courtyard in the space between the L-shaped building’s wings.
Easy Bistro owner Erik Niel says business at his downtown restaurant is better so far this year and “night and day” compared to 12 months ago. “Being normal is way up,” he said. “We’re holding our breath and hope it won’t stop.”
Amid the slow economy, downtown boosters are trying to ensure the central city’s growth advances.
RiverCity Co., the private nonprofit downtown redevelopment group, has retooled its operations to fit the existing needs. Kim White, RiverCity’s chief executive, said the group helps businesses relocate or expand downtown and fosters the growth of retail and restaurants.
FISCHER EVANS
Taylor Watson, a gemologist and appraiser at Fischer Evans Jewelers on Market Street, said business is way up over last year. “We’ve really been very fortunate,” she said, citing loyal clientele and bridal business.
Ms. Watson said downtown needs more retail to woo people from the suburbs to shop. “We need a cross-section of retail,” she said. “It would be nice to have boutiques and cute stores.”
Mrs. White said plans are to create a one-stop shop for real estate brokers, businesses, building owners, site selectors and developers. It will help them identify financial resources, retail recruitment incentives and opportunities to work with UTC, she said.
MERCHANTS GROUP
In addition, RiverCity is promoting a downtown merchants association and wants to partner with Realtors and property owners to market living in Chattanooga’s core.
“Now is the time to make our downtown even more attractive to private developers, small businesses and residents,” Mrs. White said.
Founded in 1986, RiverCity’s project- and events-oriented vision has been a catalyst for many downtown successes, she said, including the Majestic 12 movie theater, new housing, waterfront redevelopment and Nightfall music concerts. Mrs. White, who took RiverCity’s helm in mid-2009, said the economy is in flux and public funding resources are dwindling.
“By seizing this moment, we will be prepared to take advantage of new opportunities when the economy recovers” she said.